Panama Pensionado Visa
Retire in Panama on a $1,000 pension
Permanent residency from day one, discounts that stretch a fixed income, and no rule that says you have to be retired.
U.S. dollar economy. Three hours from Miami. World-class healthcare available.
Why Panama
Why so many Americans pick Panama
Panama runs on the U.S. dollar, so your check arrives and gets spent in the same money. There's also a strong American expat presence here, thanks to the Panama Canal.
- No exchange-rate risk on your pension
- About 3 hours from Miami, on East Coast time
- Modern private hospitals and a big expat community
$1,000/mo
Lifetime pension to qualify
$750 if you buy a $100k home
Day one
Permanent residency on approval
No temporary stage first
25 to 50%
Legally mandated retiree discounts
Hotels, flights, dining, medical, and more
How it works
The Pensionado, in plain English
You'll need a pension or other passive income source that pays at least $1,000 a month. Here's the catch: it has to be guaranteed for life, not a savings balance you draw down. Even better: there's no age limit past 18, allowing you to retire as early as you want.
- Social Security or a government pension
- Military, police, or state retirement
- A lifetime annuity from a regulated company
- Permanent disability income
Pensionado Visa
Designed for retirees, this visa requires proof of a guaranteed lifetime pension. It offers permanent residency and access to various discounts and benefits in Panama.
- Government cost
- $800
- Processing time
- ~60 days
- Timeline
- Permanent
- Difficulty
- Easy
Key requirements
- Proof of lifetime income of at least $1,000 USD per month
- Valid passport
- Police clearance certificate
- Health certificate
- Proof of economic ties or income
Scouting trips
See Panama before you commit
Boquete's cool mountains feel nothing like a Panama City high-rise or a Coronado beach. Walk them first.
- Our small-group trip visits Panama City, Coronado, and Boquete
- Meet vetted lawyers, agents, and locals on the ground
- We walk neighborhoods
- Tour healthcare facilities
- Explore housing options
- Help you understand what daily life actually feels like
Vetted help on the ground
Freedom Panama
Panama Relocation Specialist
Freedom Panama files your Pensionado paperwork and helps you settle in.
ECI Developments
Belize & Panama Real Estate and Investing
ECI Developments handles the property side, including the $100k pension route.
Hunter Schultz
Healthcare Coach
Hunter Schultz coaches new arrivals through Panama's hospitals and insurance.
Where to live
Four places that retirees land
Panama City
City life
A real skyline, international schools, top hospitals, and nonstop restaurants. The priciest and busiest option, and the easiest place to land without much Spanish, but you'll trade quiet for convenience and sit in some traffic.
Boquete
Cool mountain town
Spring-like weather in the Chiriqui highlands, coffee farms, hiking, and one of Panama's oldest expat communities. David's hospitals and airport are close by, and your budget stretches further up here than almost anywhere else.
Coronado
Beach and golf
An hour from the capital on the Pacific, with gated communities, golf, and a big, established expat crowd that makes settling in simple. Weekend traffic from the city and a hotter, drier climate are the trade-offs.
Bocas del Toro
Caribbean island life
A Caribbean archipelago you get around by water taxi, with a ramshackle town on Isla Colon, surf breaks, and a long-established foreign crowd. It is one of the wettest corners of Panama, healthcare is basic, and power and internet drop out. For people who want island, not convenience.
Common questions
How long does approval take?
Plan on a few months after your lawyer files. You'll use a licensed Panamanian attorney and spend some time in the country. Approval brings permanent residency, and citizenship is possible after five years.
Do I have to be retired to qualify?
No. There's no age minimum past 18. What counts is a pension or annuity that pays at least $1,000 a month for life, like Social Security or a military pension.
Will Panama tax my pension?
No. Panama only taxes money earned inside the country, so your foreign pension and Social Security stay untaxed there. You'll still file a US return, though.
Can I lower the $1,000 minimum?
Yes. Buy Panamanian property worth $100,000 or more and it drops to $750 a month. Add $250 a month for each dependent, like a spouse or a child under 25.
Can I work on the Pensionado?
Not as a local employee. You can own a business, take dividends, or work remotely for clients abroad. A Panama job needs a separate work permit.
What income counts, and what doesn't?
Social Security, government and military pensions, and lifetime annuities from a regulated company qualify. A bank balance, stocks, or rental income on their own don't, because the pension has to be guaranteed for life.
Ready to make Panama home?
Thousands of Americans have already done it.
Why not you?